Nucor (NYSE:NUE) Issues Quarterly Earnings Results, Beats Expectations By $0.09 EPS

Nucor (NYSE:NUE) posted its earnings results on Monday. The basic materials company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.40 by $0.09, Briefing.com reports. The firm had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.28 billion. Nucor had a net margin of 10.45% and a return on equity of 15.69%. The company’s revenue for the quarter was down 15.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.57 EPS.

Nucor Trading Down 6.5 %

NYSE:NUE opened at $146.03 on Wednesday. The company has a market cap of $35.01 billion, a PE ratio of 8.59 and a beta of 1.55. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.93 and a quick ratio of 1.85. Nucor has a one year low of $133.42 and a one year high of $203.00. The firm has a 50-day moving average of $147.80 and a 200-day moving average of $159.52.

Nucor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, September 27th will be paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date is Friday, September 27th. Nucor’s dividend payout ratio (DPR) is 12.71%.

Insiders Place Their Bets

In related news, EVP Daniel R. Needham sold 8,624 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $160.00, for a total transaction of $1,379,840.00. Following the completion of the sale, the executive vice president now owns 99,049 shares in the company, valued at approximately $15,847,840. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on NUE shares. BMO Capital Markets decreased their price objective on Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a report on Wednesday, September 18th. Morgan Stanley decreased their price target on Nucor from $176.00 to $170.00 and set an “overweight” rating for the company in a research note on Wednesday, September 18th. Bank of America cut their price objective on Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, June 26th. JPMorgan Chase & Co. decreased their target price on shares of Nucor from $174.00 to $170.00 and set an “overweight” rating for the company in a research report on Wednesday, October 9th. Finally, Argus upgraded shares of Nucor to a “strong-buy” rating in a research report on Monday, August 26th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Nucor has an average rating of “Moderate Buy” and a consensus price target of $191.43.

Nucor Company Profile

Nucor Corporation engages in manufacture and sale of steel and steel products. It operates in three segments: steel mills, steel products, and raw materials. The Steel Mills segment produces hot-rolled, cold-rolled, and galvanized sheet steel products; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products; and engages in the steel trading and rebar distribution businesses.